Best Questions to Ask before Making an Offer on a Candlewood Lake Home
Finding the right home among
the many Candlewood Lake and Lake Lillinonah properties is truly an exciting
opportunity. But before you make that offer, be sure to step back and get some
crucial information. Keep in mind that when it comes to buying a home, no
question is a bad question. Here are four questions that you should settle
before making an offer.
1. Does the home fit my
budget
It is easy to fall in love
with Candlewood Lake homes. However, you have to ensure that the property you
want to make an offer on fits in your budget. Avoid becoming “house poor.”
Oftentimes, people spend a large portion of their income on a home. This
results to little cash to spend on other items.
Avoid financial difficulties with this two-step process:
a. Make sure to get a
preapproval. It will estimate the size of loan you can handle and determine
your monthly mortgage payment.
b. Practice your mortgage
payment. For three months, practice paying your target mortgage payment. If the
payment is more than your current housing expenses, place the difference in a
separate account. If you can easily manage the additional expenses, it is a
sign that you are ready to make an offer.
2. How long has the property
been on the market?
It is important to find out
the answer to this question. If the Candlewood Lake real estate has been
lingering on the market for a few months, it could be an indication that it is
overpriced. There are other factors that needs to be considered as well,
including home condition, pricing or economic influences. Candlewood, Lake
Lillinonah and Lake Zoar waterfront homes are desirable and sought after in
most markets. Whatever the reason may be, knowing the answer will help you make
better decisions.
3. What is wrong with this
house?
Not all homes are in perfect
condition. If the seller is keen on getting the property sold, they may fail to
disclose any real problems. Some seller’s agent recommends getting a home
inspection before putting the home on the market. If the inspection has been
done, ask to read it. Even if the house looks picture-perfect, it is definitely
worth it to ask the seller upfront of any issues or problems that they are
aware of, and most importantly, as a buyer get the home inspected to learn about the home's maintenance and to uncover any health, safety and structural
issues.
4. How is the location?
One thing you cannot change
about a home is its location. If you want to evaluate the home’s location, ask
the following questions:
a. What is the neighborhood
like at different times of day?
b. Does the neighborhood
feel like a good fit for my family?
c. Is the neighborhood safe?
d. How close is the home to
work/daycare/school/family/shopping?
If you are not satisfied
with the answers, you might want to rethink your offer.
It will really be helpful if
you make sure that these four questions are answered before you make an offer.
Visit http://www.CandlewoodLakeCTRealEstate.com today to see the latest
listings in Candlewood Lake.
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